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Tag Archives: Citizens Property Insurance
Consumers: This blog is still all about you!
Our logo says it all: The TEAM Works blog has always been about you. Nearly everything written here is aimed at making our readers better consumers as it relates to being more knowledgeable about buying, selling or improving their property. We believe informed consumers make informed choices, and we want to do our part to keep you informed. For the past 6 months we’ve shared useful consumer information about such varied topics as: how the stock market is affecting the local housing market; investor-savvy home improvements; how to communicate expertly with your REALTOR®; the sinkhole housing crisis; which smart phone apps are essential for buyers and sellers; the importance of sellers pet-prepping their homes; what sellers can learn from first-time offers; how to impress buyers with your garage; the potential pitfalls of social media; incentives sellers can offer buyers; the advantage of sellers dealing only with pre-qualified buyers; preparing your … Continue reading
Act now to sink Citizens’ insurance rate hike
Isn’t it ironic that the policyholders who pay Citizens Property Insurance to insure their homes against the threat of sinking into the ground, now find that the real threat of losing their home may come from the insurer itself? The request by Citizens Property Insurance to increase premiums for its 94,000 customers in the Tampa Bay region has gone from predatory to just plain greedy. Time is running short for residents to stand up to these out-of-touch bureaucrats who oversee the state-run property insurer. They either don’t know or don’t care that charging such exorbitant fees will result in losing most of their customers, or putting a huge financial strain on the ones who remain. Citizens’ board of governors also seems indifferent to the possibility that their actions will negatively impact the housing market, especially in Hernando County and Pasco County, where the steepest premium increases are proposed. I wrote … Continue reading
Sinkhole insurance affects housing market
A friend asked me earlier this week if the proposal by Citizens Property Insurance to increase premiums for sinkhole coverage by more than 400% would affect the Hernando County housing market. If it wasn’t such a serious question — with such certain consequences — I might have laughed. It’s sort of like asking “If Congress doesn’t raise the debt ceiling so our government can pay its bills, will it affect our national economy?” The prevalence of sinkholes in this region of Florida has had an impact on the housing market for a decade. But the problem has escalated in recent years because of several reasons, including the burden that development places on Florida’s fragile geology, misguided legislation by state lawmakers, the Great Recession and fraudulent claims. Those factors have now converged to create a perfect storm that threatens to steer the Tampa Bay housing market, which was just beginning to … Continue reading
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